IBT Staff Reporter

Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.

A Japanese unit of Switzerland's UBS AG said its computer systems mistakenly placed a $31 billion order for convertible bonds (CB) of videogame maker Capcom Co on Wednesday, but it was able to cancel the trade at no cost.

Leaders of the G20 developed and emerging countries should not backtrack on their agreement last year to fight protectionism when they meet in London in April, the head of the World Trade Organization said on Wednesday.

The head of sovereign ratings at Standard & Poor's told Reuters on Wednesday he expected more sovereign ratings downgrades than upgrades this year and flagged financial markets' concern about the health of public finances.

On a snowy hillside in rural southwest Pennsylvania, Larry Grimm drives his truck up a steep gravel track to a hilltop reservoir surrounded by orange plastic fencing and keep out signs.

Tougher green rules coupled with the economic downturn could dim the currently stable outlook of U.S. public power electric utilities, Moody's Investors Service said in a report on Tuesday.

President Barack Obama on Tuesday called on Congress to send him legislation that places a market-based cap on U.S. carbon polluting emissions and pushes the production of more renewable energy.

India will allow local and overseas firms to offer wireless telecoms services without owning networks or spectrum, the government said on Wednesday, accepting a recommendation from the telecoms regulator.

The chief executives of Live Nation and Ticketmaster got a skeptical reception on Capitol Hill on Tuesday, with a leading lawmaker pressing Ticketmaster to sell a reselling subsidiary.

The threat of protectionism just won't lie down, despite repeated promises of political leaders to refrain from raising barriers to trade.

Ambac Financial Group Inc reported a fourth-quarter loss of more than $2 billion on Wednesday, as the bond insurer set aside nearly $1 billion more for losses tied to residential mortgage debt.

Google Inc has added its voice to the case against Microsoft Corp as the European Commission probes antitrust charges related to the software giant's Internet Explorer browser

Privately held mobile email provider Visto said Tuesday it agreed to buy rival Good Technology from Motorola Inc to expand its position in a market dominated by Research in Motion Ltd.

Oil shed on Wednesday some of the previous session's 4 percent gains but held above $39, after President Obama balanced his message of hope for the U.S. economy with a warning and ahead of data on U.S. oil stocks. Obama told Congress the United States would emerge stronger from its deepest economic slump in decades but said America faced a day of reckoning for its past excesses. The preside...

President Barack Obama tidied up his economic message on Tuesday, reviving the hopeful Yes We Can spirit of his campaign and abandoning the Maybe We Can't impression he took to the White House.

American International Group Inc may scrap a plan to repay a $60 billion U.S. government loan by selling businesses, after failing to find enough promising bidders, Bloomberg said, citing people with knowledge of the matter.

The right incentives would make satellite television companies willing to extend local service to underserved and rural areas, senior executives of DISH Network Corp and DirecTV Group Inc told lawmakers on Tuesday.

Citigroup may sell both its Japanese investment bank and brokerage, according to media reports, as the faltering U.S. lender looks to raise more cash from a sale of global assets.

President Barack Obama struck a balance between grim economic reality and a more hopeful outlook on Tuesday to try to reassure worried Americans their country will emerge from crisis stronger than before.

EQUITY FUTURES REGAIN NEARLY ALL OF MONDAY'S LOSSES, AS FED CHAIRMAN CALMS FEARS OF BANK NATIONALIZATION, FOCUS TURNS TO VALUE SHOPPING.

ECONOMIC DATA 02/25/2009: all times EST. 10:00 AM US EXISTING HOME SALES (4.80 MILLION). 10:30 AM EIA INVENTORY

Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.

Amid a time of crisis for the financial industry, shareholders of BB&T Corp., one of the largest U.S. regional banks, will continue to see steady dividend payments for fourth straight quarter although payout growth is slowing compared to previous years.

An eagerly awaited NASA satellite failed to reach orbit Tuesday after the rocket carrying it crashed shortly after liftoff from California's Vandenberg Air Force Base.

Governments around the world have committed more than $200 billion to support renewable energy initiatives despite of the economic downturn, according to a Deutsche Bank analysis released Tuesday.

Little political enthusiasm exists for further support to the banking sector. One reason is that banks that received money in the initial rescues do not seem to have increased their lending, without which monetary and fiscal stimulus are unlikely to be effective. For banks to start lending again, even more intervention may be needed.

Australian Dollar: The Australian Dollar opens higher today at US65 cents having traded between a low of 0.6388 and a high of 0.6525 over the last 24 hours.

Assume that you are considering investing $700,000 and that this is a large sum for you. Experts give you the names of two reputable investment houses of long standing.

Microsoft Corp outlined plans to offset revenue declines as the PC market shifts to low-cost netbooks, but it failed to announce more cost cuts, sending its shares to an 11-year low.